Is Cuba, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Cuba was a Buyer's Market.
Key Takeaway
Cuba is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cuba, NY
How much do homes in Cuba, NY cost?
Median Sold Price
$130,875
$79/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cuba have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Cuba was $130,875 in May 2024, up 1.1% from last year, and the median price per square foot was $79.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $89.9K | $60K | -33.3% |
| 2 Bedrooms | $124.9K | $99.2K | -20.5% |
| 3 Bedrooms | $125K | $147.5K | +18.0% |
| 4 Bedrooms | $180K | $152.7K | -15.1% |
| 5+ Bedrooms | $450K | $105K | -76.7% |
Summary: Cuba housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 20.5%, 3 bedroom homes increased by 18%, 4 bedroom homes decreased by 15.1%, and 5+ bedroom homes decreased by 76.7%.
Housing Supply in Cuba, NY
How many homes are available in Cuba, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 25 | +13.6% |
Summary: The Cuba real estate market had 25 homes for sale in May 2024, a 13.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 6 | 10 | +66.7% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Cuba housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 66.7%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 6 | +500.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cuba, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Cuba in May 2024, up by 500.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Cuba, NY
How long does it take to sell a home in Cuba, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 108 Days | +985.0% |
Summary: Homes in Cuba had an average of 108 days on market in May 2024, up by 985% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Cuba are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 6 homes were sold in Cuba; 33% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
